Showing 1 - 10 of 31
This article examines the extent to which utilitarian social welfare maximization results in an egalitarian outcome for the classic n-agent cake-cutting problem when the agents are characterized by heterogenous subsistence needs as well as by heterogeneous tastes. It is shown that utilitarian...
Persistent link: https://www.econbiz.de/10004997731
Sri Lanka's Termination of Employment of Workmen Act (TEWA) requires that firms with 15 or more workers justify layoffs and provide generous severance pay to displaced workers, with smaller firms being exempted. Although formally subject to TEWA, firms in Export Promotion Zones (EPZs) do not...
Persistent link: https://www.econbiz.de/10011103420
sector. A theoretical model shows that firms subject to TEWA will tend to mass at or below the threshold of 14 workers until … they get an atypically large productivity shock that would propel them beyond the threshold. EPZ firms will be largely … likely to add employees than nonEPZ firms. Above the threshold, nonEPZ firms are more likely to shed workers while EPZ firms …
Persistent link: https://www.econbiz.de/10004997736
This essay discusses the potential relevance of artificial life research for the study of economic processes.
Persistent link: https://www.econbiz.de/10005441992
Open Source Software (OSS) expresses the idea that developers should be able to license the publication of their software in a manner permitting anyone to freely use, modify, and distribute the software. Today OSS is widely used in the software industry, such as for language development tools...
Persistent link: https://www.econbiz.de/10004969753
This study uses a dynamic 5-bus test case implemented via the AMES Wholesale Power Market Test Bed to investigate strategic capacity withholding by generation companies (GenCos) in restructured wholesale power markets under systematically varied demand conditions. The strategic behaviors of the...
Persistent link: https://www.econbiz.de/10004969756
Wholesale power markets around the world are currently undergoing a controversial restructuring of their architecture and rules of operation. Some commentators have argued that restructuring has not produced the intended improvements in market efficiency while at the same time it has complicated...
Persistent link: https://www.econbiz.de/10004969758
This study investigates the performance of Gale-Shapley matching in an evolutionary market context. Computational experimental findings are reported for an evolutionary match-and-play trade network game in which resource constrained traders repeatedly choose and refuse trade partners in...
Persistent link: https://www.econbiz.de/10004979902
This paper develops an evolutionary trade network game (TNG) that combines evolutionary game play with endogenous partner selection. Successive generations of resource-constrained buyers and sellers choose and refuse trade partners on the basis of continually updated expected payoffs. Trade...
Persistent link: https://www.econbiz.de/10004979903
Power industry restructuring continues to evolve at multiple levels of system operations. At the bulk electricity level, several organizations charged with regional system operation are implementing versions of a Wholesale Power Market Platform (WPMP) in response to U.S. Federal Energy...
Persistent link: https://www.econbiz.de/10004979905